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The group would be composed of representatives from the U.S. Treasury Department, Financial Crimes Enforcement Network (FinCEN), the Internal Revenue Services (IRS), the Office of Foreign Asset Control (OFAC), the FBI, the Drug Enforcement Agency, the Department of Homeland Security, the Department of Justice, the Department of State and the
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Over the course of the marathon hearing, Gensler fended off questions about whether his agency was pushing too hard on proposed rules, providing too little time for public feedback on these rules, how it was approaching crypto companies hoping to operate in the U.S. and a host of non-crypto questions,
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"Crypto investors should benefit from compliance with the same laws that Rayburn and Roosevelt laid out to protect against fraud, manipulation, front-running, wash sales, and other misconduct," Gensler said. "As Justice Thurgood Marshall put it so well, 'Congress’s purpose in enacting the securities laws was to regulate investments, in whatever
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The United States House Committee on Financial Services will hold a hearing on April 19 to discuss stablecoins’ position as a means of payment and whether the ecosystem needs supporting legislation.The committee issued a memorandum to announce an upcoming hearing titled: “Understanding Stablecoins’ Role in Payments and the Need for
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With public trust in large tech companies at an all-time low, Congress is once again considering comprehensive data privacy legislation. But the rise of blockchain technologies and the nascent decentralized web mean that these comprehensive proposals are already behind the times. Without major revisions, these legislative proposals risk strangling decentralizing
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The Fed chair said no decision has yet been made on the size of the coming March rate hike. Source
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The stock of beleaguered crypto bank Silvergate has taken a new hit as the company weathers intense regulatory inquiries over its FTX association. Silvergate (NYSE: SI) stock plunged more than 10% in after-hours trading after the crypto-friendly bank revealed it might face regulatory inquiries. Yesterday, Silvergate Capital also announced
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The Silvergate filing continued: "There are or will be important factors that could cause the Company’s actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to ... restrictions on the Company’s business, resulting from various litigation (including private litigation) and regulatory and other
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Coinbase has promised to empower the Crypto435 community with information on how to connect with their political representatives. Coinbase Global Inc (NASDAQ: COIN) has undertaken several initiatives to steer forward cryptocurrency adoption in the United States. As the leading publicly traded cryptocurrency exchange, the company understands the need to educate
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Republican Senator Pat Toomey, who is set to retire from U.S. Congress at the end of the term, has used one of his last few weeks in office to introduce a new stablecoin bill, aimed at creating a regulatory framework for “payment stablecoins.”Toomey — who also serves as the Ranking
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